Corporate Governance, Asbestos Included Topics at 15th Annual P/C Executive Conference

November 3, 2003

Corporate governance, the future of asbestos legislation, and building capital strength will be among the topics discussed this month at the 2003 annual Property/Casualty Executive Conference, as announced by conference co-sponsors Standard & Poor’s Ratings Services and
PricewaterhouseCoopers.

The conference, in its 15th year, is organized by The Conference Group Ltd., the New York-based executive conference company.
Set for Nov. 20-21 at The Essex House in New York, the conference theme is “Managing Change in an Uncertain World.”

The conference will include the following speakers:

*Maurice Greenberg, chairman, CEO of American International Group;
*Edmund Kelly, Chairman, president, CEO of Liberty Mutual Group; *James Schiro, CEO of Zurich Financial Services;
*James Lee, Jr., vice chairman of J.P. Morgan Chase & Co.;
*John Coomber, CEO of Swiss Re Group;
*Jay Fishman, chairman, president, CEO of The St. Paul Companies;
*Brian O’Hara, president, CEO of XL Capital Ltd.;
*Brian Duperreault, chairman, CEO of ACE Limited;
*Roger Raber, president, CEO of National Association
of Corporate Directors;
*Robert Vagley, president of American Insurance Association.

Speakers will discuss increasing shareholder value, the future of insurance legislation, including pending asbestos legislation, risk management in light of terrorism exposure, and the outlooks for the property/casualty and global reinsurance industries. Members of a CEO roundtable will discuss current market challenges and how CEOs are responding to them.

“The property/casualty industry is enjoying phenomenal pricing power, but continues to be pummeled by reserve hits and investment losses,” said Standard & Poor’s credit analyst Steve Dreyer, managing director of Standard & Poor’s Insurance practice. “The dialogue between senior management from the industry, regulators, and trade association executives helps participants understand where this industry is headed.”

“With the U.S. stock market recovery over the past few months, improving combined ratios, and the holding of key terms and conditions, executives in the property/casualty industry are feeling a bit more optimistic as they plan for 2004,” said Chairman John Scheid of PricewaterhouseCoopers Americas Insurance Group. “This conference will create an opportunity for key players to discuss opportunities and challenges that lie ahead for the industry.”

Black Diamond Group and JPMorgan are also sponsors of the conference.

Additional information about the conference, including registration materials, can be found at www.conferencegroupltd.com

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